Paddy Power Betfair will put up $158m in cash and its US assets to merge with fantasy sports platform FanDuel, a spinout from University of Edinburgh.

Ireland-headquartered betting firm Paddy Power Betfair (PPB) agreed yesterday to acquire a majority stake in FanDuel, a US-based daily sports fantasy spinout from University of Edinburgh, as part of a merger deal.

FanDuel will be merged with the TVG horseracing betting network, media business and online casinos owned by Betfair US,…Read More.